§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer how much investment by overseas residents in gilt-edged securities has increased each year since 1990 and in the current year to date; and what assessment he has made of the effect of this investment on the rate of exchange.
§ Mr. NelsonA sectoral breakdown of purchases of Government securities is given at table 10.2F of the Central Statistical Office's "Financial Statistics".
1079WOther things being equal, foreign purchases of United Kingdom gilts increase the exchange rate if sterling is acquired to effect the transaction. However, any impact is extremely difficult to quantify since a large number of factors affect the exchange rate.